Budget to focus on knowledge-based growth

New employment avenues for homemakers and youth

Finance Minister T.M. Thomas Isaac’s 12th Budget to be presented in the Assembly on Friday will chart out a new course for the educated unemployed.

Homemakers and women, who have crossed the age limit for applying for government jobs through the Kerala Public Service Commission (PSC), will also not be left out as new employment avenues are to be generated.

A hike in the welfare pensions is on the cards. The salaried class will also get new pay and allowance from next fiscal as the announcement of implementing the 11th Pay Commission report will figure in the Budget.

“COVID-19 that has snatched many lives and hit all sectors of the economy has also created a new situation. A new job market has emerged and the brand name of Kerala has increased. We are going to take leverage on these and it will be spelled out in the Budget,” Dr. Isaac told The Hindu amidst giving finishing touches to the Budget at the Inspection Bungalow, Kovalam.

“Transition of Kerala into a knowledge economy will be the centerpiece of the Budget. Like the Kerala Infrastructure Investment Fund Board (KIIFB), it will be equally innovative and will lead the State to knowledge-based development in the years ahead,” he said.

A comprehensive package, including skill development, start-ups and knowledge industries, is being planned. The Finance Minister said it would not be ‘incremental’ and would be the biggest employment generation programme in the country to address the needs of 20 lakh educated unemployed youth. “It will be a role model and address the world economic issues,” Dr. Isaac said.

Free from the keenly watched local body elections and enthused by the verdict, Dr. Isaac’s challenge is to meet the aspirations of the people, especially the younger generation.

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